Hussain, Nazim; Wang, Shuo; Zeng, Cheng (Colin); Wu, Qiang - 2023
This study investigates whether and how a firm’s greenwashing — the gap between its “green talk” and “green walk” — affects bond pricing. Using 3,810 public bonds issued by U.S. firms, we find a positive relationship between greenwashing and the cost of bonds. We identify the...